Lindian boosts coffers with $1.65M cash from | Australian Markets

Lindian Resources has topped up its coffers with a double shot of cash totalling just below $1.65 million from the train of 10M unlisted choices at $0.12 per share for $1.2M and a $448,753 analysis and development refund.

The federal Research and Development Tax Incentive Program refund is for course of development and metallurgical testwork Lindian performed to improve beneficiation at its large Kangankunde uncommon earths project in Malawi.

Kangankunde, about 90 kilometres north of Malawi’s important financial and business centre Blantyre, probably ranks among the many world’s greatest uncommon earths deposits.

It is very regarded as a result of of its elevated uncommon earths grades, low incidence of impurities and radioactive minerals, and enticing value construction that positions the project within the lowest value quartile of uncommon earths initiatives globally.

The whole indicated and inferred mineral useful resource for the project is 261 million tonnes at an average grade of 2.14 per cent whole uncommon earth oxides (TREO) at a 0.5 per cent TREO cut-off grade.

The whole indicated useful resource is 61Mt grading 2.43 per cent TREO, at a 0.5 per cent TREO cut-off grade, which incorporates a higher-grade 25Mt averaging 3.26 per cent TREO utilizing a greater 2.5 per cent TREO cut-off.

The assets include a maiden ore reserve of 23.7Mt at 2.9 per cent TREO, which research show will help a stage one mine life of 45-years . Almost 20 per cent of the reserve contains the more helpful magnet uncommon earths, neodymium and praseodymium.

Stage one development entails mining and a mineral processing plant and essential help infrastructure and could be a logical springboard for future expansions of the operation.

Lindian’s beneficiation research on the Kangankunde deposit have focussed on gravity and magnetic separation techniques to extract a focus.

Initial research show that water-only, low-cost beneficiation strategies geared toward minimising capital expenditure will yield about 70 per cent restoration. The company goals to provide a high uncommon earth oxide focus of 60 per cent TREO for export.

Earlier this month, Lindian’s web site development replace confirmed it was properly on monitor with haul highway construction, important infrastructure and solar energy farm works.

Additionally, mining and energy infrastructure contracts and pricing for long lead-time objects are being finalised and shortlisted.

Lindian has additionally just lately appointed skilled personnel throughout its web site operations to fill roles together with senior course of engineer, construction superintendent, project planner, QA/QC superintendent and health, security and atmosphere officer.

The company stays on monitor to start plant construction this 12 months.

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